Archive for April, 2010

26
Apr

CareerXRoads 2009/2010 Employment Report

CareerXRoads 9th Annual Source of Hire Study: Meltdown in 2009 and What Matters for a 2010 Recovery

Snapshot of the Study

Timing. Emails to 200 different companies were sent out late December 2009, inviting firms to participate in an online Source of Hire survey. All invited had corporate staffing responsibilities and direct access to their company’s SOH data.
Scale. Results form 176,420 positions supplied the final 41 firms with about 1.8M US-based employees, employing 1,501 recruiters and sourcers are included in the report.
Transparency/Confidentiality. While the annual survey requires respondents to provide contact information, we have never divulged the names of the firms participating in the survey. They do represent a cross-section of many industries, and many respondents are authentic industry leaders.

Selected Key Findings

Internal transfers and promotions were the source of 51% of ALL the full-time positions companies filled, on average, a significant increase over 2008.
30% of respondents do not know, and cannot even guess, the size of their contingent population, which averages 13.6% for do not know.
Referrals make up 26.7% of all external hires. The yield for referrals is 1 hire for every 15 referrals, making this category the most efficient source.
Hires attributed to job boards represent 13.2% of external hires. Monster continues to lose ground to Career Builder. Social media, while rapidly expanding as a strategy, is still in its early stages vis-a-vis attributed hires. Only about 500 hires can be attributed to social media. Direct sourcing activities are increasingly adopting social media tools and tactics. Corporate staffing is poised to expand social media initiatives rapidly in 2010.
Hires attributed to the company Website are 22.3%.
2010 looks bright compared to 2009 hiring plans. This year only 10.8% predict further hiring reductions, 48% expect to grow, and the rest are holding steady.